* Adjusted operating profit rose to 30 mln stg
* FY revenue up 19.5 percent to 142.1 mln stg
* CEO Matthew Crummack calls Ogden rate cut an "opportunity"
(Adds revenue, leverage details)
By Noor Zainab Hussain and Maiya Keidan
LONDON, March 2 British price comparison website
operator Gocompare.com Group Plc reported a 30 percent
jump in underlying operating profits on Thursday.
Gocompare.com, which enables consumers to shop around for
financial, travel and utility services, said adjusted operating
profit last year was 30 million pounds ($36.81 million), up from
23.1 million pounds in 2015.
The company, which was demerged from British insurer esure
Group in November, said full-year revenue jumped 19.5
percent to 142.1 million pounds, driven in part by a rise in car
insurance premiums, which prompted more consumers to use price
comparison websites to switch providers.
A government decision this week to cut the discount rate
used by insurers to settle personal injury claims is expected to
see car insurance premiums rise even more, and Gocompare's chief
executive, Matthew Crummack, said this should benefit the firm.
"What we hear from the sector about the (discount) rate is
it is very likely to push up prices and our experience is that
when you see price rises, you tend to see more people looking
for better deals and therefore it's an opportunity for us," he
The company would not pay a final dividend for 2016 due to
having only been listed since November, he added.
($1 = 0.8150 pounds)
(Reporting by Noor Zainab Hussain and Maiya Keidan; editing by
Simon Jessop, Greg Mahlich)